Trump's Treasury Secretary said the president deserves credit for Wall Street's record run

The Dow Jones Industrial Average closed at record highs for the 10th consecutive day on Thursday, Nasdaq reported. This is a economic milestone that hasn't been seen since 1987.

The Dow Jones surged about 35 points to lock in its 10th straight record close. Johnson & Johnson contributed the most gains, CNBC reported.

On the same day, Treasury Secretary Steven Mnuchin addressed tax policy reform in his first interview since being confirmed. He promised that the Trump administration would get tax reform passed by August, but added that its effects wouldn't be seen for years, according to CNN.

"This won't really impact the economy until [late] next year ... and it will take several years to get growth," he said.

Mnuchin gave credit for some of the positive economic news to the Trump administration.

"There's a lot of confidence in the Trump administration and in the desire to invest in the U.S.," he told CNBC on Thursday. "This is a very competitive place to do business. We've got great companies, and you see that reflected in the markets."

The U.S. economy grew 1.6 percent in 2016, and the Federal Reserve and the Congressional Budget Office have forecasted an average growth rate of about two percent over the next few years. Mnuchin predicted faster growth with his new tax reform.

Trump's Treasury Secretary said the president deserves credit for Wall Street's record run

In a meeting with chief executives of major U.S. companies, Trump renewed a pledge to bring millions of jobs back to the U.S. Dow Chemical Company CEO Andrew Liveris said he was "very encouraged" after the meeting with the commander-in-chief.